Markets Trade Flat, ICICI Bank Gains

Benchmark indices were trading flat, after a relentless rally of the last 4-days. Most of the global markets were quiet, even as Covid-19 cases began to surge.

The Sensex was trading with gains of 6 points, while the Nifty was down 8 points in trade. The Nifty had opened higher and was edging very close to the 10,800 mark, but, fell after initial trades.

Reliance Industries, which has been instrumental in the rally of the last few days, took a pause and was down 0.30 per cent in trade.

Shares in Bajaj Finance was leading the set of gainers in trade, after a business update from the company. The stock was up nearly 3 per cent today. Other notable winners from the Nifty were Tata Motors, Bajaj Auto and Infosys.

Among the early Nifty losers were Bharti Infratel, Power Grid, ONGC and BPCL. Shares in PVR were marginally down after the company announced a rights issue of shares.

Banking stocks apart from ICICI Bank were slightly weakish in trade and the Bank Nifty fell 100 points.